On October 2, Global UIN (08496.HK) announced that for the year ended June 30, 2024, the total revenue generated by the group in the current year was approximately 6.7 million Singapore dollars, a decrease of about 39.9% from approximately 11.2 million Singapore dollars for the year ended June 30, 2023. The main reason for the decrease is the consideration of continuously rising rents, which would greatly increase the group's operating costs in Singapore. The group has decided not to renew the expired leases of related stores, leading to a reduction in the number of bakeries and restaurants. The decrease in the number of bakeries and restaurants had a greater impact than the revenue generated by the new branch of smart beverage vending machines established in China in the current year.

For the current year, the group recorded a net loss attributable to owners of the company of approximately 2.2 million Singapore dollars (2023: 5 million Singapore dollars). The directors believe that the decrease in net loss attributable to equity holders is due to (i) the consideration of continuously rising rents, which would greatly increase the group's operating costs in Singapore. The group decided not to renew the expired leases of related stores, resulting in a reduction in the number of stores; (ii) a decrease in employee benefits costs; (iii) a decrease in impairment losses on right-of-use assets; and (iv) a decrease in impairment losses on factory and equipment.